(WFNN Bank)I just found out that I had a old Structure card that is showing as being delinquent?

Question

The last activity from my credit report shows 1999, but in 2004 they started listing it as past due. I have not received a bill from them since 1999 (when I thought I paid it off). I called them and was told that they had a different address than my current one where I have been for over 5 years. My current address is on my credit report and can be found when I google my name. I will pay it, but want to know why they never sent my a bill and why did they reopen it after 5 years. I is adverely afting my credit and want to know if it is legal for a company to do this

I really though this way paid off and want to make it right, but am cufused about them reopeing it as listing it as now past due again. From the report, they never cahrged it off or sent it to a collection agency

Answer 1

Let me address your questions and not preach to you like the other responders are doing.

The creditor/collection agency can post delinquent items to your history at any time, as long as it is within the 7 year reporting period. By law, they must have sent you a letter in the mail to give you a chance to dispute it. But they only have to send it by 1st class mail, and to the last known address. I'm going to bet this was done, and you just didn't receive it.

Either way, the posting is legal and there is nothing you can do about it.

Now the good part.....remember that "7 years" stuff I mentioned? That means the report has to come off this year.

The reporting period is 7 years, beginning on the day you became delinquent.

NOT the past due date. NOT the charge off date. NOT the reporting date. NOT the last transaction date.

Therefore, if your bill was delinquent on 1999, it must come off your credit report after 7 years (2006). So your first job is to send a dispute letter to the credit reporting agency and demand that the listing be removed.

Follow the dispute procedure listed in the Fair Credit Reporting Act. If you follow the dispute procedure, and this listing isn't removed this year, you have grounds to sue them for $1000 in small claims court.

Now more good news (maybe). Depending on the state you live in, the Statute of Limitations on this debt has run out. That means they no longer have the ability to sue you. You no longer have a legal obligation to pay this debt.

Have a nice day....contact me if you need more info.

Answer 2

I just responded to your sears question.

It was your responsibility to make sure that all your mail got to you. If you had a credit card, it was your responsibility to pay it on time. Just because you move doesn't mean that you can keep the money they lent you. They sent some bills and when they went unpaid they put it as a charge off on your record. That is how a merchant or a library can get their losses. If you take off with their money, they put it on your credit. No one will want to lend you money if you have blemishes on your credit. So yes - even a library book can affect your credit score if you never compensate the library for it and they decide to do a charge off on your credit.

Now it is your responsibility to fix the errors. I will cut and past my advice on the sears card. It is perfectly legal for a company to put a charge off on your credit if in fact you owe them money and have made no effort to pay them.

But before I do I think I would like to reccomend that you read some articles about maintaining your credit. Try www.bankrate.com. Also do a google search for a book called guerilla credit repair.

So pay your structure card!

But play it off like you might have to file for bankrutpcy. Try and negotiate a lower pay off rate. Don't be shy about telling them that if you end up filing for bankruptcy they won't get anything. If they agree to a lower rate then insist that you have it in writing that they will take it off your record. Once you get the proof promptly pay it. If they don't take it off your record then send copy of your proof to all three credit bureaus. But most likely if they gave you proof that they would they will.

If you don't get it in writing - it will stay on your record for seven years from when you paid it off.
(2 minutes ago )

Answer 3

Those mo fo's tried to do this to me too! I had opened a Maurices card and only had like $15 on it. Apparently they had the wrong address in their system, which is totally their fault. I gave them my correct address and have not moved. If you call, you will be put through the ringer, but they will take off your late charges and fix your credit report. (They did for me anyway) The guy was a total d*ck to me, but I was pissed and not willing to back down. Just make sure you make it clear that the fault of the error lies with them. They have not sent you a bill and it was someone who worked for them who typed in the wrong address. It is not your fault someone who works for them can't type in the correct address.

Answer 4

You might want to see if they will do a pay for deletion. But this must be done in writing.